President Donald Trump has confirmed that the US will take a ten p.c stake in Intel. Throughout a press convention on Friday, Trump stated Intel CEO Lip-Bu Tan agreed to present the federal government the stake, which is valued at round $10 billion. Earlier this month, Trump known as on Tan to resign over his ties to China, and at present he positioned the deal as a means for the chief to “maintain his job.”
Trump advised reporters that he floated the provide throughout negotiations with Tan. “I stated, ‘I feel it will be good having the USA as your companion,’” Trump stated. “They’ve agreed to do it, and I feel it’s an important deal for them.”
Intel declined to remark.
Treasury Secretary Scott Bessent hinted at the government’s potential funding this week, saying throughout an interview with CNBC that it “can be a conversion of grants” meant to “stabilize the corporate for chip manufacturing right here within the US.”
It doesn’t seem to be that is the tip for Trump’s method to deal-making, as he stated throughout the briefing that “he’ll do extra of them” sooner or later.